The current snapshot of S&P 500 3-Day Advance Issues, Tick16 Short Term + Long Term as of 2013 Feb 17 close.
Reading
1. Long Term Tick16 (yellow line) below neutral zone but not dropping
2. Short Term Tick16 (red line) pulled back to neutral zone
3. 3 Days Advance Issues (green line) diverging from new high printed by S&P itself
Inference
a. #1 in bearish consolidation mode. That means 30-min timeframe intraday has no continuation strength. Both overbought and oversold on 30-min and up would result in reversal easily.
b. #2 points to breakout mode as the index has compressed at neutral zone for days.
c. #3 points to a pullback in breadth (advance issues) back down to neutral zone is necessary. It can correct itself without dragging the price of S&P lower. If so it will be very bullish for S&P.
Last update predicted it was still in favour of the bulls and every push lowered were good long opportunities. That was indeed what happened. This may change if #1 starts to slide lower away from the neutral zone into more bearish level.
The current snapshot of 3-Day Advance Issues, Tick16 Short Term + Long Term as of 2012 Jul 24 Close.
Readings
1. 3-Day Advance Issues printing new low with S&P at the same ...
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From breadth models including 3-days Advance and Tick16, the US stock market indices (SPX, NDX, Dow) are entering a zone that poses significant downside risk (10% to 15%, or more ...
Review of Forecast for May 18, 2015
The expectation of limited upside was correct. In fact, all week consolidation. The potential of starting a strong decline was not confirmed yet. The ...
Review of Forecast for Mar 14, 2016
Going sideway pullback until 1.5% drop defended and led to an all out run higher to close positive for the year. Wild swings both ...
Review of Forecast for Mar 21, 2016
Pullback until 1.5% drop defended and bounced back into a shortened week close. Extended swings with low volume both ways switching between bullish and ...
As of yesterday close, both 3-Day Advance Issues and Tick16 Short Term are pointing up from their usual oversold zone.
This confirms the potential of a very powerful rally that can ...
Market Internals 2013-02-17
My monthly update on market internals.
The current snapshot of S&P 500 3-Day Advance Issues, Tick16 Short Term + Long Term as of 2013 Feb 17 close.
Reading
1. Long Term Tick16 (yellow line) below neutral zone but not dropping
2. Short Term Tick16 (red line) pulled back to neutral zone
3. 3 Days Advance Issues (green line) diverging from new high printed by S&P itself
Inference
a. #1 in bearish consolidation mode. That means 30-min timeframe intraday has no continuation strength. Both overbought and oversold on 30-min and up would result in reversal easily.
b. #2 points to breakout mode as the index has compressed at neutral zone for days.
c. #3 points to a pullback in breadth (advance issues) back down to neutral zone is necessary. It can correct itself without dragging the price of S&P lower. If so it will be very bullish for S&P.
Last update predicted it was still in favour of the bulls and every push lowered were good long opportunities. That was indeed what happened. This may change if #1 starts to slide lower away from the neutral zone into more bearish level.
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